Terrible news for the most vulnerable among us: young families and retirees. As the Wall Street wipeout continues, people are wondering if their retirement dollars are safe.
Even the inventor of the 4% rule has had to rethink his approaches, it is a rule that has been held since 1994. The 4% retirement rule was instituted in in1994. Since then, retirees have relied on this rule to help determine how much they should spend in retirement. The rule is relatively simple. You add up all of your investments and withdraw 4% of that total during your first year of retirement. In later years, you adjust how much you withdraw to account for inflation.-
Now with inflation, those in retirement or close are really panicked as they simply cannot live off of 4% anymore. When it comes to inflation, it’s even hurting young families; Bloomberg recently reported that it isn’t just formula shortages. According to Bloomberg, infant and toddler clothing increased by 7.6 percent year on year, “the second-fastest growth rate in the last three decades,” per Bloomberg. With food prices increasing simultaneously, households are likely to lose “disposable incomes available for the purchase of other goods and services.’ But even at this higher cost, sometimes you can’t even find infant formula.
Joining us now is Brett Winterble, a spokesperson from Birch Gold, to discuss the future of the market – and what others may want to prepare for in terms of the significant drop in value.
Q&A:
1. Inflation is surging. The Dow is dropping. Do you think this will go much lower, and do you think we are heading into a potential recession in 2023?
2. How do you think this will affect investors in the market? In particular, is there a group that could feel the after-effects of such a colossal drop?
3. Do you believe retirees may have something to worry about with the results of today’s massive drop?
4. The hot housing market shows signs of putting on the brakes. So, with the housing and stock markets down, what other investment options would you suggest people look into?
5. You are an advocate of real money and not a fan of the U.S. dollar since so many greenbacks have been printed, reducing their value. Tell us about tangible assets, such as gold and silver, and where they might fit into our investment portfolios.
6. Tell us about new rules governing IRA accounts, allowing us to switch from inflated fiat dollars into gold. And is there any penalty associated with such a switch?
7. Where can we learn more about Birch Gold Group, gold IRAs, and other services provided by Birch Gold.
A. You can visit https://www.birchgold.com
About Brett Winterble…
After spending nearly a decade with Rush Limbaugh as a Producer, Brett Winterble
Brett currently hosts The Brett Winterble Show, heard Monday through Friday from 3-6 pm on News Talk 1110 & 99.3 WBT in Charlotte, North Carolina. Prior, Brett was heard on Sirius XM, plus 980 KFWB in Los Angeles and 760 KFMB in San Diego.
He is a graduate of Emerson College and American Military University with degrees in Political Communication and Homeland Security/Intelligence Studies. Brett is married to a schoolteacher and has 2 college-aged kids.
CONTACT: Jerry McGlothlin of Special Guests 919-437-0001 jerry@specialguests.com
